Trump Media Sells Another $165M in Bitcoin, Booking a Fresh Loss

Data shared by Lookonchain earlier today suggests that Trump Media, the entity behind the Truth Social media platform, majority-owned by the Donald J. Trump Revocable Trust, has sold over $165 million worth of bitcoin.

This was the second substantial sale made by the entity in recent months after it had splashed over $1 billion at prices near the top last year to accumulate 11,542 units.

The on-chain analytics company noted that the latest offload was for 2,628 BTC after it had transferred the stash to crypto.com. This continued a streak that began earlier this year.

Previously, the entity had spent $1.37 billion to acquire 11,542 BTC at an average price of $118,522. Since its entry level was very close to bitcoin’s very top marked just under a year ago, this automatically means that its sales have been completed at prices well below that.